Siemens Energy beating continues – shares keep tumbling
Extensive failure rates on onshore wind turbines maul Siemens Energy guidance this years, analysts lowers expectations as a result.
BY MARKETWIRE, TRANSLATED BY SIMON ØST VEJBÆK
Siemens Energy suffered on Friday’s exchange upon scrapping profit guidance for this fiscal year. Now, analysts follow suit.
Several observers lowers recommendation following Friday’s announcement and the significant 37.7% slump.
Citi downgrades share recommendation from ”neutral” to ”buy”, and Jefferies says ”hold”, against previous ”buy”.
And the shares keep tumbling on Monday, taking a 4.8% plunge on Frankfurt bourse.
Last week, the German OEM tanked profit guidance on continued challenges in subsidiary Siemens Gamesa.
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